Nippon Steel's net profit rises in Apr-Dec y-o-y
Time:Tue, 14 Feb 2023 09:31:52 +0800
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Japan steelmaker Nippon Steel Corporation reported its financial results for the first nine months of the financial year 2022-23 ending December 31. The net profit was around 548.5 yen, up by 3.7% year on year. The net sales also rose by 20.6% year on year to 5.96 trillion yen during the period.
Meanwhile, the company's crude steel production was 25.63 million tons, dropping by 14.2%, while it delivered 23.7 million tons of steel products, a year-on-year decline of 13%.
Nippon Steel forecasted the total crude steel production to be 17.2 million tons in the second half and 34.2 million for the whole fiscal year. Besides, it estimated its full-year profit will be 670 billion yen.
